51LR Westpac B Frn29

    Westpactrust Securities NZ Ld

As Agent Bank, please be advised of the following rate determined on:26-May-2005

Issue               : Westpac Trust Securities NZ Limited - Series 471
                      NZD 7,500,000 FRN Due 26 Nov 2007
ISIN Number         : XS0206079989
Common Code/        : 20607998
144A ISIN           
Issue Nomin     NZD : 7,500,000.00
Period              : 26-May-2005 to 26-Aug-2005      Payment Date 26-Aug-2005
Number of Days      : 92
Rate                : 7.05
Denomination     NZ : 100,000.00  7,500,000.00
Amount Payable      : 1,776.99    133,273.97
per Denomination    


Rate Fix Desk                      Telephone   44(0) 1202 34 1286
Institutional Trust Services       Facsimile   44(0) 1202 34 1267

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